First Majestic Silver (NYSE:AG) Shares Gap Down – Time to Sell?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) gapped down prior to trading on Monday . The stock had previously closed at $17.42, but opened at $16.50. First Majestic Silver shares last traded at $16.58, with a volume of 6,558,731 shares.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AG. Cormark upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 6th. BMO Capital Markets restated a “market perform” rating on shares of First Majestic Silver in a research report on Tuesday, October 7th. National Bank Financial upgraded shares of First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research report on Sunday, October 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of First Majestic Silver in a research note on Wednesday, October 8th. Finally, National Bankshares set a $22.00 price target on First Majestic Silver and gave the stock an “outperform” rating in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $17.33.

First Majestic Silver Trading Down 3.0%

The company has a quick ratio of 2.96, a current ratio of 3.38 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $8.29 billion, a PE ratio of 120.44 and a beta of 0.84. The stock’s fifty day moving average price is $13.89 and its two-hundred day moving average price is $11.18.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Wednesday, November 5th. The mining company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). First Majestic Silver had a net margin of 7.07% and a return on equity of 3.14%. The business had revenue of $285.10 million for the quarter, compared to the consensus estimate of $429.78 million. During the same quarter in the prior year, the company earned ($0.09) EPS. First Majestic Silver’s revenue was up 95.3% compared to the same quarter last year. Sell-side analysts anticipate that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were paid a $0.0052 dividend. The ex-dividend date of this dividend was Friday, November 14th. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 dividend on an annualized basis and a yield of 0.1%. First Majestic Silver’s payout ratio is currently 14.29%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AG. Tudor Investment Corp ET AL increased its stake in shares of First Majestic Silver by 891.5% in the 3rd quarter. Tudor Investment Corp ET AL now owns 244,740 shares of the mining company’s stock worth $3,008,000 after acquiring an additional 220,056 shares in the last quarter. Swiss Life Asset Management Ltd increased its stake in shares of First Majestic Silver by 92.0% during the third quarter. Swiss Life Asset Management Ltd now owns 21,538 shares of the mining company’s stock valued at $265,000 after purchasing an additional 10,318 shares in the last quarter. Cantor Fitzgerald L. P. purchased a new position in shares of First Majestic Silver during the third quarter valued at approximately $318,000. Advisory Services Network LLC bought a new stake in shares of First Majestic Silver in the 3rd quarter worth approximately $344,000. Finally, Kestra Private Wealth Services LLC grew its stake in shares of First Majestic Silver by 15.0% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 23,071 shares of the mining company’s stock worth $284,000 after buying an additional 3,008 shares during the last quarter. Institutional investors own 27.16% of the company’s stock.

First Majestic Silver Company Profile

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.